Smith Barney CEO Sallie Krawcheck cited the illegal practice in a memo to Tom Matthews, head of the private client division, according to Reuters. Smith Barney has not been cited by New York or other state regulators who, in tandem with an investigation by the
- However, a number of companies cited in regulators complaints have fired executives in the past two weeks.
Prudential Securities has fired 12 brokers.Alliance has fired two of its fund managers.Janus , has dismissed an undisclosed number of its fund managers, andBank of America has fired its mutual fund director and three brokers.
